Vamos En Victoria Group
All of the women have different activities like: the sale of live pigs, the sale of curds and the sale of milk, activities very typical of the region. The daily routine of these women is to get up at 4:00 in the morning to take advantage of the morning sales like the sale of milk and curds and their by-products. These are products that are usually needed in the early hours to send children, having had their breakfast, to school. Also, other members of the bank sell their products as street vendors and they get up very early, almost at nightfall, as they leave to sell outside of their community. For them it is a very hard life but it is their way of life and that of their families.
They are grateful for the opportunity that the Kiva lenders provide to people of limited resources and who are from poor countries like Nicaragua so that they can move forward and have a dignified way of life.
Fundación Leon 2000This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid